(CercleFinance.com) – The CAC40 is accelerating, the increase is around + 1% towards 7.120 in this last full session before Christmas … but it rises a little in the void since only 4 billion euros were traded.
The euro-Stoxx50 is not to be outdone with + 1.1% to 4.263 while Wall Street should pass the + 3% mark since the start of the month (for the Dow Jones, it will be + 4%).
The S & P500 (+ 0.7%) reached 4.727 (with 90% of securities up) and could register a 68th closing record (beyond 4.712Pts) tonight,
the Nasdaq gained more than 0.7% in the wake of the Tesla (+ 3.3%) which crosses the $ 1,000 mark (and that of the trillion capitalization), and the Dow Jones (+ 0.6%) follows again the 36,000 before an extended weekend (US markets closed on 12/24, but open on 12/31).
Just like the other major Euronext markets, the Parisian square will not close its doors until tomorrow at 2:05 p.m., before the weekend’s festivities … and Wall Street will be closed on 12/24, but open on 12/31.
Today’s US figures are not likely to call into question the ‘Christmas rally’: in fact, household consumption expenditure rose 0.6% in November compared to the previous month in the United States, d ‘after the Department of Commerce, while the consensus was counting on + 0.4% after disappointing retail sales (+ 0.3%) published at the end of last week.
Their revenues rose 0.4%, while Jefferies expected them to be up 0.6%. On an annual basis, the rate of increase of the PCE price index increased by 0.6 point to + 5.7% in aggregate data, and by 0.5 point to + 4.7% excluding energy and food (yesterday, inflation linked to GDP had been revised from + 5.9% to + 6%).
Another good indicator, durable goods orders rose by + 2.5% in November in the United States after a small increase of 0.1% (revised) in October.
Economists forecast on average an increase of 1.6% after the initial decline of 0.5% announced in first estimate for the month of October.
Orders for capital goods for the transport sector alone rose 6.5%.
Orders for capital goods excluding transport – sometimes considered a good barometer of business investment projects – posted a more modest increase of 0.8% in November.
New home sales jumped 12.4% (to 744,000 transactions / year but the consensus expected better with 766,000). The median home price continues to soar with + 18.8% year on year, to $ 416,900, a record price level.
The number of weekly registrations for unemployment benefits remained stable the week of December 13 in the United States, it standing at 205,000, as the revised figure of the previous week.
Finally, during the week of December 11, the number of people receiving regular benefits stood at 1,859,000, down 8,000 from the revised figure for the previous week. This is the lowest level recorded since March 2020, the report said.
These positive elements should not, however, make us forget the instability of the health situation: the shadow of Omicron hangs over the markets at the same time as the variant stretches to the four corners of the world, and its spread continues to restrain the investor appetite for risk.
However, the markets seemed relieved yesterday by the publication of a Bloomberg dispatch claiming that 80% of people infected with Omicron were asymptomatic, and that emergency room admissions remained rare … and in France, many ‘cases’ on a daily basis (absolute record of tests since the start of the pandemic), but little, by very little, hospitalizations due to Covid, most of the admissions to intensive care and ‘sheaves’ (i.e. 94% of cases, official figures) being linked to the classic flu, seasonal virus diseases and other diseases.
China has nevertheless taken new drastic containment measures (with campaigns of massive tests and the establishment of very intrusive restraint measures even within families) in recent hours and Dr. Fauci, the American benchmark with regard to the epidemic of Covid (but whose resolute action in favor of ‘all vaccines’ is contested by some Republican parliamentarians), recommended avoiding large gatherings at Christmas, which is pure common sense.
The US bond markets are reacting a little late to the flood of ‘stats’ published at 2:30 pm: the yield on T-Bonds takes + 43Pts towards 1.4950%.
In Europe, on the other hand, while equities continue to benefit from a ‘risk-on’ climate, Treasury bonds are suffering and our OATs are up + 5Pts at 0.1270%, Bunds + 5Pts at -0.244%, Italian construction + 8Pts at 1.13% …
The Dollar regains 0.25% towards 1.1295 / E, gold returns to the level of $ 1,800 (to $ 1,805).
In the news of French stocks, Fountaine Pajot publishes net income group share 2020/21 up 63% to 11.6 million euros, as well as a gross operating surplus up 54% to 32 , 9 million, for a turnover up 17% to 202.3 million.
Carmat announces the end of its investigations into the quality problems previously identified on some of its prostheses. This investigation identified the origin of the quality problem, and determined the changes required to prevent it from recurring, the company said.
Finally, Altarea announces the creation of the Alta retail parks fund. in accordance with the partnership agreements announced last June with Crédit Agricole Assurances, covering one billion euros of investments, rights included, in assets held by Altarea.
On this occasion, Altarea sold 49% of a portfolio of nine French retail parks, assets representing a cumulative area of 212,000 m2 and which generate 30 million euros in annual gross rental income.
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